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This analysis is done purely on basis of price action and chart patterns.
The analysis is done on weekly TF hence it can take couple of days to couple of weeks to reach the target.
Logic, SL and Target is shown in image itself.
This analysis is for study purpose. Traders must do their own study before entering into any trade. Traders should trade with their own risk capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis
The analysis is done on weekly TF hence it can take couple of days to couple of weeks to reach the target.
Logic, SL and Target is shown in image itself.
This analysis is for study purpose. Traders must do their own study before entering into any trade. Traders should trade with their own risk capacity and money management.
Feel Free to comment for any query or suggestion regarding this stock or Price Action Analysis
Comments
Great analysis.
What's your views on South indian Bank?
But my personal opinion is not so good about this stock. Its a very small bank and looking at the shareholding pattern, where most of shares are with small/retail investors (and big players have continuously off-loaded their shares), hopes are not very high for the stock. It can still go up if the strong bullish momentum in banks in particular and Nifty in general continues.
When one can have huge opportunities in much better stocks, going for such stocks is a risky scenario for me.
The above is my personal opinion. Kindly do your own study before entering into any trade.